MEXICO CITY Mexico's Pemex said on Thursday it had launched a tender offer to prepay around a third of $14.7 billion in bonds maturing between 2020-2023, in President Andres Manuel Lopez Obrador's latest effort to shore up the state oil firm.
MEXICO CITY Mexico's Pemex said on Thursday it had launched a tender offer to prepay up to $14.7 billion of its bonds, in the largest financial operation to shore up the state oil firm since President Andres Manuel Lopez Obrador took office.
MEXICO CITY Mexico on Tuesday unveiled parts of a keenly awaited business plan meant to bring the world's most indebted oil company back from the abyss, but its vow of $7.2 billion in government support failed to dispel worries of a ratings downgrade.
LEON, Mexico Mexican state oil company Pemex plans to refinance $2.5 billion in debt this year while trying to revive oil output to boost income, the firm's chief financial officer said, as pressure mounts from ratings agencies over the company's performance.
LEON, Mexico Petroleos Mexicanos will focus on shallow water projects and onshore plays, and avoid investing in its deepwater riches for now, as the ailing Mexican state-run oil company seeks to turn around a 14-year slide in crude production, a top official said on Thursday.
By Stefanie Eschenbacher, Kate Duguid and Ana Isabel Martinez
MEXICO CITY, June 6 Investors at six of the
world's largest asset managers, all of whom own the bonds of
Mexican national oil company Pemex, expect them to be downgraded
to "junk" status within months.
MEXICO CITY Mexican President Andres Manuel Lopez Obrador made his boldest move yet to root out entrenched corruption by going after one of his predecessor's closest aides, a former chief of state oil firm Pemex, for alleged bribery, tax fraud and other crimes.
MEXICO CITY Mexico's government aims to give $7.3 billion in tax relief to heavily indebted state oil company Pemex, according to a document seen by Reuters on Thursday, in an effort to cool fears over its financial viability and the impact on the wider economy.
MEXICO CITY Credit ratings agencies must be "responsible and serious" in how they evaluate Mexican state oil company Pemex, Energy Minister Rocio Nahle told Reuters on Friday, strongly defending spending and policy decisions that she says will benefit the firm.